Moderate Republican Sen. Susan Collins broke party ranks Wednesday, supporting a tax hike on millionaires and billionaires in order to fund a tax break for working Americans.

The senator from Maine also skewered a key GOP talking point by differentiating the wealthy, described in nearly all Republican rhetoric as "job creators," from the people who actually create jobs -- otherwise known as employers.

Democrats have proposed cutting payroll taxes by 3.1 percent, which could put about $1,500 back in the pockets of the average household. Republicans are supportive of the tax cut, but adamantly oppose the Democratic plan to pay for it by levying a surtax on income above $1 million.